Trump signs executive order that could expand offshore energy development

CNBC – President Donald Trump on Friday instructed his Cabinet officials to take actions that will potentially open new areas of federally administered waters to energy development.

The actions, spelled out in a new executive order, mark Trump's latest effort to lift limits on oil and gas drilling and coal mining put in place by his predecessor. The move sets in motion a potential reversal of President Barack Obama's last-minute attempts to withdraw vast swaths of U.S. waters from lease sales to fossil fuel companies.

Trump put particular emphasis on one aspect of the order: rescinding Obama's executive action that aims to indefinitely place off limits to drillers much of the Arctic waters off Alaska's shores, as well as parts of the Atlantic Ocean.

"It reverses the previous administration's Arctic leasing ban. So, you hear that? It reverses the previous administration's Arctic leasing ban," he said before signing the order.

Read more at CNBC.

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